period, then the company using A) LIFO will have the lowest cost of goods sold. B) LIFO will have the highest ending inventory C) FIFO will have the highest cost of goods sold. D) FIFO will have the highest ending inventory sting method. If the price of goods has increased during the 51. Marvin Services Corporation had the following accounts and balances: Accounts payable Accounts receivable Buildings Cash $21,000 21,000 6,000 Equipment Land Unearned service revenue 3,000 9,000 Total stockholders' equity If total stockholder's equity was $57,000, what would be the balance of the Buildings Account? A) $87,000 B) $21,000 C) $27,000 D) $81,000 52. The Paid-in Capital in Excess of Par Value is increased in the accounting records whe A) the stated value of capital stock is greater than the par value. B) capital stock is issued at an amount greater than par value. C) the number of shares issued exceeds par value. D) the market value of the stock rises above par value. 53. Bond discount should be amortized to comply with A) conservatism. B) the historical cost principle. C) the expense recognition principle. D) the revenue recognition principle. 54. The purchase or sale of long-lived assets used in operating the business is A) an investing activity. B) a financing activity. C) an operating activity D) None of these answer choices are correct